Shake Shack Inc. (NYSE:SHAK) Director Sells $1,302,600.00 in Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $130.26, for a total transaction of $1,302,600.00. Following the sale, the director now directly owns 386,636 shares of the company’s stock, valued at $50,363,205.36. The trade was a 2.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Daniel Harris Meyer also recently made the following trade(s):

• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00.
• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00.

Shake Shack Price Performance

NYSE SHAK opened at $127.73 on Thursday. The stock’s 50-day moving average price is $103.65 and its two-hundred day moving average price is $111.04. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.45 billion, a PE ratio of 555.34 and a beta of 1.77. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. Shake Shack’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Shake Shack

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Shake Shack by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after buying an additional 49,883 shares in the last quarter. Invesco Ltd. raised its stake in shares of Shake Shack by 2.0% in the first quarter. Invesco Ltd. now owns 1,269,876 shares of the company’s stock valued at $111,965,000 after purchasing an additional 24,783 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Shake Shack by 17.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after acquiring an additional 134,475 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Shake Shack by 144.3% during the first quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company’s stock worth $69,805,000 after acquiring an additional 467,748 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in Shake Shack by 19.0% during the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company’s stock worth $69,266,000 after acquiring an additional 125,357 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SHAK shares. TD Securities reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Shake Shack in a report on Monday, May 19th. Stifel Nicolaus reduced their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Loop Capital raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Tuesday, April 1st. Truist Financial upped their price objective on shares of Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, KeyCorp started coverage on shares of Shake Shack in a research report on Monday, June 2nd. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $115.40.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.